Breeze-Eastern Reports Fiscal 2010 Results
Breeze-Eastern Corporation (NYSE Amex: BZC) today reported its Fiscal 2010 financial results:
The Fiscal 2010 results above include non-cash pre-tax charges of ($12,230,000) that reduced profitability. These charges included adjustments to estimated reserves of ($3,311,000) for inventory obsolescence and ($8,135,000) for environmental liabilities, plus ($784,000) for estimated losses on engineering project commitments to customers. The Fiscal 2010 results also included pre-tax costs of ($1,539,000) for unabsorbed manufacturing overhead resulting from the Company’s factory shutdown and relocation in March 2010.
New orders received during Fiscal 2010 were $68,183,000, compared with $82,123,000 last Fiscal year. The fiscal-year-end backlog was $130,144,000, compared with $130,988,000 at the end of Fiscal 2009. The book-to-bill ratio for Fiscal 2010 was 1.0 versus 1.1 in Fiscal 2009.
For the Fiscal 2010 fourth quarter:
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